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Former Binance Executive Aims To Raise $100M To Start Crypto Adoption Focused VC

Bill Qian, the former head of venture capital investments and acquisitions at Binance Holdings Ltd., says he aims to raise over $100 million through a new crypto venture capital fund.

Qian told Bloomberg he sees a need for significant user growth as one of the crypto industry’s most critical challenges, a key factor in founding Cypher Capital.

As the chairman of Dubai-based Cypher Capital since leaving Binance in June, Qian told Bloomberg that he plans to back startups focused on web3 and the decentralized internet powered by blockchain technology.

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